The February 6th “Asset Search News Roundup” concentrates on the possible abuse of attorney trust accounts:
A principal of PokerStars pleads guilty and Nigerian advance fee frauds:
♦ The May 9, 2011 Asset Search News Roundup and Secreting Money Via Internet Gambling On The Isle Of Man, discussed criminal prosecutions against the principals of three internet gambling businesses. One of the principals, Ira Rubin of PokerStars, just entered a guilty
The Financial Action Task Force’s frequently asked questions webpage, states “Large-scale money laundering schemes invariably contain cross-border elements.” Large-scale money launderers are not the only ones who hide assets by utilizing cross-border or offshore elements. Divorcing spouses, judgment debtors and anyone else, may conceal valuable assets by combining offshore elements with additional ones.
These
“Human Intelligence & The SEC’s Whistleblower Program” examines the government’s handling of tips in its search for assets concealed by securities fraudsters. The IRS Whistleblower Program similarly seeks tips from informants who help the IRS detect assets concealed in tax frauds.
Besides these whistleblower programs, tips can often be generated in a variety of ways. “Warsaw Prosecutors Eye Possible Money Laundering At 50 Platowcowa Street” highlights a tip supplied through an anonymous letter. This tip letter caused Polish prosecutors to launch a money laundering investigation and search for funds connected to a suspected shell company in Delaware.
“An Asset Search, Tax Fraud & Divorce” meanwhile, describes how a prospective tipster was interviewed by Brian, an ex-IRS special agent and former high-ranking official at FinCEN. Brian conducted this interview to locate marital assets believed to have been hidden by a divorcing husband suspected of tax fraud.
Continue Reading An Asset Search Via Whistleblowers & Other Tipsters
An October 25th press release describes a forfeiture effort pursued by the U.S. Government against Teodorin Nguema Obiang, Equatorial Guinea’s Minister of Forestry and Agriculture and the first son of Equatorial Guinea’s head of state. For me, this press release raises another issue: Could Equatorial Guinea nationals commence a lawsuit in the U.S. against Nguema and Equatorial Guinea?
Such a lawsuit might claim that Nguema collected vast sums of monies during an alleged public corruption scheme originating in Equatorial Guinea. It could also allege that Nguema had possibly used the supposed corruption proceeds to help fund his lavish lifestyle which included the purchase of this palatial Malibu, California mansion at 3620 Sweetwater Mesa Road:
Among the many questions this prospective lawsuit raises, are: Would the claimants who are Equatorial Guinea nationals, possess a cognizable claim in a lawsuit filed in the U.S.?; and Could Equatorial Guineas’ immunity from lawsuits, (as contemplated by the Foreign Sovereign Immunities Act), be avoided because of the “commercial activity” or “takings” exceptions at 28 U.S.C. §§ 1605(a) (2) or (a) (3)?Continue Reading Suing Teodorin Nguema Obiang For His Malibu Mansion, Gulfstream Jet, Etc.
Interdicting assets parked in Switzerland and forgeries–
Twelve new peer review reports and laundering assets by purchasing real estate:
“Bodies hanging from bridge in Mexico are warning to social media users” highlights the heinous murders of two bloggers in Neuvo Laredo, Mexico. As “Mexico murders show how Internet empowers, threatens” too explains, the bloggers are believed to have been killed for reporting on Mexican drug cartels.
The August 2011
Freezing bank accounts maintained by nominees and Scottish prosecutors investigate a suspected tax fraud.
Today’s “Asset Search News Roundup” deals with the beneficial ownership of assets.